Banker's Game: On leakages in the Eurosystem and a case of intellectual isolation

Banker's Game is a short documentary that was released in October 2025, produced by whistleblower John Christmas and his assistant Andrea Vrazhalska. Evita Birzina Ansis Pūpols from Latvia, as well as Mauro Caterina from Italy are investigative journalists who appear in the video too. It has been available on YouTube since 2 May 2026. 

The main theme of the documentary is a comparison between a historical bail-out in Latvia of Parex Banka (founded in 1991) in comparison with the bail-out of Italian bank Monte Dei Paschi Di Siena, the oldest bank in Italy (incorporated in 1472). Specific reference is made to a secret transaction in Latvia, approved in 2010 by then Prime Minister Valdis Dombrovskis. This secret transaction was reversible and used to provide Latvia entry into the Eurozone by artificially keeping Latvia's public debt and deficit low enough to meet the Stability- and Growth Pact criteria. More details are given in the documentary. 

One of the core questions in the documentary is whether or not reversible transactions are lawful, particularly in relation to government statistics. The Stability- and Growth Pact specifically forbids government deficit to exceed 3% of GDP. During Latvia's entry into the Eurozone, this was sustained by the usage of a secret put-option, which at the time would be a violation of ESA-95 norms.